Broadview Heights, OH Cost of Living

Broadview Heights cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

Here we can see a simple outline of the cost of living in Broadview Heights, OH. As you can see, with the average cost of living in Broadview Heights, OH being 107, that puts it 18% higher than the average of Ohio and 7% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Broadview Heights, OH, the price of goods and services are 7% higher than the average of Ohio as well as 6% higher than the nation's average.

Did you know?

The cost of living in Broadview Heights is 18% higher than the Ohio average.

The cost of living in Broadview Heights is 7% higher than the national average.

The cost of housing in Broadview Heights is 9% higher than the national average.

Compare Broadview Heights, OH Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

Using the salary calculator lets you compare the salary you earn in Broadview Heights, OH to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Broadview Heights, OH, you have to earn a higher income in order to still have the same standard of living. To operate the Broadview Heights, OH salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$94,708

$7,892

$2,210

$2,842

Renters

$53,187

$4,432

$1,241

$1,596

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Broadview Heights, OH, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Broadview Heights, OH homeowners have a median income of $94,708. Using that number, you will come up with a maximum of $2,210 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $53,187, which means there is a maximum of $1,241 to be spent on the costs of renting a home or apartment.

Ohio Sales Tax

State

General Sales Tax

With Max Surtax

Ohio

5.75%

8%

Ohio Income Tax

State

Income Tax (Low)

Income Tax (High)

Ohio

0.5%

5%

The Ohio sales tax and Ohio income tax rates should definitely be considered when determining the overall cost of living in Broadview Heights, OH. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Ohio sales tax is 5.75% and the maximum surtax is 8%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Ohio income tax rates range from 0.5% to 5%.

Goods & Services

Item

Broadview Heights

National avg.

Difference

Haircut

$17.33

$16.09

7.8%

Beauty Salon

$36.88

$37.33

1.2%

Toothpaste

$2.63

$2.45

7.6%

Shampoo

$0.99

$1.00

0.7%

Movie

$10.63

$10.28

3.4%

Bowling

$4.78

$4.93

3.1%

Groceries

Item

Broadview Heights

National avg.

Difference

Ground Beef

$5.03

$3.80

32.2%

Fried Chicken

$2.05

$1.40

46.8%

Milk

$1.88

$2.01

6.2%

Potatoes

$2.47

$3.01

18.1%

Pizza

$10.49

$9.89

6.1%

Beer

$8.16

$8.90

8.3%

Health Care

Item

Broadview Heights

National avg.

Difference

Optometrist

$80.26

$102.16

21.4%

Doctor

$110.20

$108.36

1.7%

Dentist

$90.67

$92.53

2.0%

Ibuprofen

$10.33

$9.28

11.4%

Lipitor

$460.86

$425.82

8.2%

Housing

Item

Broadview Heights

National avg.

Difference

Home Price

$217,600.00

$184,700.00

17.8%

Avg. Mortgage Payment

$1,011.93

$1,202.44

15.8%

Apartment Rent

$843.00

$949.00

11.2%

Transportation

Item

Broadview Heights

National avg.

Difference

Gasoline

$2.24

$2.24

0.3%

Tire Balancing

$50.35

$46.29

8.8%

Utilities

Item

Broadview Heights

National avg.

Difference

All Electricity

$157.80

$165.96

4.9%

Phone

$33.53

$28.68

16.9%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.